Pakistan's stock market tumbles as India-Pakistan tensions simmer
Islamabad, Apr 24 (PTI): Pakistan’s stock market on Thursday witnessed a sharp dip, with the benchmark KSE-100 index closing at 115,019.81, down by 2206.33 points from the last close, amid brewing tension between India and Pakistan after the Pahalgam terror attack.
Terrorists opened fire in Pahalgam in Jammu and Kashmir on Tuesday, killing 26 people, mostly tourists, in the deadliest attack in the Valley since the Pulwama strike in 2019. The Resistance Front (TRF), a proxy of the banned Pakistan-based Lashkar-e-Taiba (LeT), claimed responsibility for the attack.
India on Wednesday downgraded diplomatic ties with Pakistan and announced a raft of measures, including suspension of the Indus Water Treaty and immediate shutting down of the Attari land-transit post in view of the cross-border links to the terror attack.
In retaliation, Pakistan also suspended bilateral trade and accords, including the Simla Agreement, and airspaces with India, among other moves.
The Pakistan Stock Exchange (PSX) took the hit, and the KSE-100 index plunged by 2,485 points early in the session, dropping to 114,740 points.
As the day progressed, the market showed signs of slight recovery, narrowing the loss to 1196 points. By midday, the current index was at 116,030.02 points.
However, it nosedived again and finally closed at 115,019.81, down by 2,206.33 points, or 1.92 per cent.
The sharp dip comes after the market touched an all-time high, crossing the 120,000 mark earlier this year. Observers said the bearish trend is expected to dominate the market until there is a sign of improvement in the current political and security situation with India.
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BCI urges SCBA, SCAORA to accord farewell to retiring SC judge Bela Trivedi
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New Delhi (PTI): The Bar Council of India on Friday urged the Supreme Court Bar Association and the Supreme Court Advocates-on-Record Association to organise an official farewell ceremony for Justice Bela M Trivedi.
Earlier in the day, Chief Justice of India B R Gavai, while presiding over ceremonial bench proceedings conducted to bid farewell to Justice Trivedi, deprecated the Supreme Court Bar Association (SCBA) for not holding the usual function for the retiring judge.
"I must deprecate openly, because I believe in speaking plainly... The association (SCBA) ought not to have taken such a stand," the CJI said.
As a matter of practice, the SCBA holds farewell functions for retiring apex court judges. An exceptional decision was taken in Justice Trivedi's case, possibly because of some decisions that went against the lawyers affiliated to the bar body.
Manan Kumar Mishra, the chairperson of Bar Council of India (BCI), wrote to SCBA president Kapil Sibal and Supreme Court Advocates-on-Record Association (SCAORA) head Vipin Nair to express deep concern over not holding a farewell function for Justice Trivedi.
"The denial of a farewell to a judge of such stature raises questions about the institutional values that we, as a collective body of legal professionals, stand for.
"To ignore her contributions and deny her the respect she rightfully deserves is to diminish the very principles of equity, fairness and integrity that Justice Trivedi has ardently upheld throughout her illustrious career," the BCI chairperson said.
The BCI further acknowledged the pivotal role of both SCBA and SCAORA in shaping the ethos of the legal community and said, "The SCBA and SCAORA have for long exemplified leadership, wisdom and a deep sense of institutional responsibility.
"Your actions resonate far beyond the walls of the Supreme Court and serve as guiding lights for the legal fraternity and the nation at large."
The BCI emphasised that a farewell is not a matter of mere ceremony, but a reaffirmation of the collective commitment to the values and traditions that uphold the dignity of the judiciary.
"Institutions are sustained by traditions, and traditions are upheld by the respect we accord to those who serve them with distinction and honour.
"We humbly urge the SCBA and SCAORA to uphold this tradition, and offer Justice Trivedi the farewell she deserves, as a gesture of institutional gratitude and respect," Mishra said.
Justice Trivedi, the 11th woman judge to be appointed in the history of the apex court, was elevated to the top court on August 31, 2021, where spent over three years.
Though Justice Trivedi would have demitted office on June 9, 2025, Friday marked her last day in office owing to a personal commitment.
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